COVENTRY City’s owners Sisu have agreed to fund the loss-making club until the end of next season.

Club chairman Ken Dulieu is expected to announce the news today (Thursday) but the Telegraph can reveal he and his board have persuaded Sisu to pump in more cash.

The news comes after the board twice rejected approaches from former vice-chairman Gary Hoffman to take over the club, with investors ready to pump in £30million.

Hoffman’s £1 offer was snubbed as the board claimed they could not take it seriously without knowing the identity of the investors or without having a signed bid on letter-headed paper.

It would have meant Sisu writing off the £30m-plus they have poured into City since they took over in 2007 with the club 30 minutes from going out of business.

The Sky Blues have been losing more than half a million pounds a month and Sisu stumped up several million pounds to save the club in March, when Dulieu said they were just days away from going into administration.

The cash guarantee will ease fans’ fears but will raise doubts about Hoffman’s takeover bid, which 97 per cent of fans backed in our online poll.